ORIC vs SPY: Correlation
How closely do Oric Pharmaceuticals, Inc. (ORIC) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.23, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ORIC and SPY?
Over the past 3 years, ORIC and SPY moved with a correlation of 0.23, which is weak. Lately the two have drifted apart, with the 1-year correlation at 0.05 versus 0.23 over 3 years. Over 5 years the correlation is 0.20, and the annualized covariance of weekly returns is 271.7 %².
Among the 11 assets we track against ORIC, SPY sits near the bottom by co-movement, at rank #7. On 12-month performance ORIC holds a 13.3-point edge, +33.9% against +20.6%. Risk is not evenly split, since ORIC carries 5.7 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ORIC vs SPY: side by side
| ORIC (Oric Pharmaceuticals, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +33.9% | +20.6% |
| 5-year return | -38.1% | +82.4% |
| Volatility (ann.) | 82.6% | 14.5% |
| Beta vs S&P 500 | 1.30 | 1.00 |
| Max drawdown (3Y) | -73.5% | -18.8% |
| Market cap | $1.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | ORIC | SPY |
|---|---|---|
| 2022 | -59.9% | -18.2% |
| 2023 | +56.2% | +26.2% |
| 2024 | -12.3% | +24.9% |
| 2025 | +1.4% | +17.7% |
| 2026 | +68.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ORIC and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.23 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ORIC and SPY?
As of 2026-08-27, the correlation of weekly returns between ORIC and SPY is 0.23 over 3 years, 0.05 over 1 year and 0.20 over 5 years.
Is SPY a good diversifier for ORIC?
Yes, to a useful degree: a correlation of 0.23 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.23 mean?
On the −1 to +1 scale, 0.23 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Hubs: ORIC correlations · SPY correlations
